Property Type:
Location:
Auction Date:Auction Details
Recommendation:Calculated OpportunityScore: 6.8
Auction ID:613621
Bank Name:Indian Overseas Bank
Branch Name:REGIONAL OFFICE - CHENNAI
Reserve Price:₹3,15,17,000
EMD:₹31,51,700
Bid Increment:₹3,00,000
Auction Time:10:30 a.m. and 12.30 p.m
Service Provider:BAANKNET
Important Dates
Submission Date:2025-11-26
Bid Start Date:2025-11-26
Property Description
This is a SARFAESI auction of a Land and Building property located in the desirable Purasawalkam area of Chennai, Tamil Nadu. Previously owned by M/s. Challani Ranka Jewellery, this residential asset presents a compelling investment opportunity. The property offers a prime location within Chennai, known for its vibrant commercial and residential landscape.
State:Tamil Nadu
City:Chennai
Area:Purasawalkam
Asset Category:Residential
Full Address:Plot No. G, Sub Division Plot No. G, Old Door No. 17, New Door No 8-A, New Thandavarayan Street (also known as Thandavarayan Street), Purasawalkam, Chennai-600007, Purasawalkam, Chennai
Size:2064 Sq. Feet
Auction Description
Indian Overseas Bank presents an online SARFAESI auction for a Land and Building property in Purasawalkam, Chennai. The auction will take place on November 26, 2025, from 10:30 AM to 12:30 PM. The reserve price is set at ₹3,15,17,000, with an Earnest Money Deposit (EMD) of ₹31,51,700 required to participate. This is a unique chance to acquire a valuable property in a sought-after Chennai locality.
Borrower Name:M/s. Challani Ranka Jewellery
Auction Type:SARFAESI Auction
Guarantor Names:Mr. R J Anandmul, Mr.Sumthi A Challani, Sri.R J Anandmul
Legal Details
Possession Status:Symbolic
Encumbrance Details:Bank's dues have priority over the statutory dues. Statutory liabilities/all known and unknown encumbrances if any, shall be borne by the purchaser/bidder and bank assumes no responsibility in this regard.
Why This Property
The property's location in Purasawalkam, Chennai, offers decent potential, but encumbrance details and auction terms suggest a 'Calculated Opportunity'. Investment requires careful due diligence. The reasonable reserve price given the locality makes it an interesting option.
Contact Details
Branch:Branch Office : REGIONAL OFFICE - CHENNAI
Service Provider:BAANKNET
Contact Details:
Mr. Vinuraj MP
Contact no:9943485875
